The hot and cold nature of the U.S.’s trade relationship with China turned hot with yesterday’s announcement of a trade deal between China and the U.S. that will lower U.S. tariffs on Chinese goods while getting cooperation from the Chinese government on a broad array of trade concerns. In Busan, South Korea, President Trump announced he and President Xi Jinping agreed to the U.S. reducing tariffs on China in exchange for China cracking down on the illicit fentanyl trade, resuming U.S. soybean purchases and allowing rare earth mineral exports. Under the announced agreement, the fentanyl related tariffs on Chinese imports will be cut to 10% (down from 20%). This reduces the overall tariff rate on Chinese imports to around 47%.
Bilateral trade agreements with other Asian trading partners abounded during President Trump’s trip to Asia. The U.S. reached sweeping trade agreements with Cambodia and Malaysia. Under these agreements, tariffs on U.S. goods would the eliminated (in the case of Cambodia) or greatly reduced (in the case of Malaysia) while the U.S. will maintain a reciprocal tariff rate of 19% for imports from Cambodia and Malaysia, except for products identified in the agreements that will receive a 0% reciprocal tariff rate. The U.S. also reached frameworks for trade agreements with Thailand and Vietnam. Notably, in the trade and framework agreements, each trading partner went beyond commitments related to duty rates, and committed to measures relating to collaborating on regulatory practices, combating tariff evasion, and implementing export controls.
On October 28, the USTR published a notice in the Federal Register for the initiation of a Section 301 investigation into China's apparent failure to comply with the 2020 Economic and Trade Agreement Between the Government of the United States of America and the Government of the People's Republic of China (Phase One Agreement). The Section 301 Committee will be holding a public hearing on this investigation on December 16, 2025. Interested persons may submit written comments and requests to appear at the hearing by December 1, 2025.
The USTR is continuing to accept comments on three open proceedings: (i) for the USTR’s review of the USMCA, interested persons have until November 3, 2025, to submit written comments on the USMCA and/or request to participate in the USTR’s public hearing on the USMCA; (ii) for the investigation into ship-to-shore cranes and certain cargo handling equipment of China, the comment period is until November 10, 2025; (iii) for the investigation into Nicaragua, written comments on the proposed actions to be taken by may be submitted by November 19, 2025.
Keeping track of all the tariffs that have been promulgated or proposed during the Trump Administration continues to be a head-spinning task. To help follow the proliferation of tariffs in the Trump Administration, I have put together the following list of each of the tariff measures that have been implemented, pending, or proposed since January 20, 2025.
Here is the developing landscape of U.S. tariffs as of October 31, 2025:
This list will be updated weekly as new tariffs are implemented and new targets for tariffs are identified by President Trump and the administration.
